Gujarat Gas Limited has informed the Exchange about Transcript
GUJGASLTD · price
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Gujarat Gas filed the transcript of its Q1 FY26 earnings call held on August 6, 2025. Q1 revenue stood at Rs. 4,065 crore (vs Rs. 4,615 crore YoY), EBITDA at Rs. 579 crore (vs Rs. 574 crore), and PAT at Rs. 327 crore (vs Rs. 330 crore). Per SCM EBITDA margin was strong at Rs. 7.17, but the CFO guided full-year FY26 margin at a lower Rs. 4.5-5.5 per SCM citing festival-driven Q2 softness and price cuts. Industrial volumes fell 6% to 4.71 MMSCMD as Morbi volumes dropped to 2.51 MMSCMD due to propane price competition; CNG volumes hit a record 3.72 MMSCMD (up 12% YoY). The Board approved a new business to source and sell propane and LPG to industrial customers, targeting 25% of the Morbi propane market (~1.67 lakh MT/month) via direct imports with no significant capex. GSPC group scheme of arrangement is pending MCA approval, expected in Q3 FY26. FY26 capex is planned at Rs. 800-1,000 crore.
Mixed near-term signals: strong Q1 margin performance is tempered by full-year guidance implying sequential compression, while the new propane foray offers optionality on volume recovery in Morbi but adds execution risk. Investors may watch for Q2 volume softness and clarity on propane margin economics.